Vallejo Municipal Code Ch. 3.46 East Vallejo Swimming Pool Construction Fund

There is created a capital outlay fund entitled and to be known as "the East Vallejo swimming pool construction fund," and four hundred fifty thousand dollars of funds received or to be received by the city during program years one through three (e.g. fiscal years 1975-76, 1976-77 and 1977-78) under the Housing and Community Development Act of 1974 (Pub. L. 93-383, 88 Stat. 633) as reflected in the city's official three-year community development plan approved by Resolution No. 75-248 N.C., adopted April 14, 1975, shall be allocated to and placed in the capital outlay fund, and the management, use and disposition of the fund, including the additions thereto, shall be governed by Section 709 of Article VII of the Charter of the city, which provides for the creation of inviolate capital outlay funds, either general or specific in nature.

(Ord. 352 N.C.(2d) § 1 (part), 1976.)

The purpose of the capital outlay fund is to provide the revenue needed for the design and construction of a new swimming pool complex for the city (referred to in this chapter as the project) to be located in the eastern sector of the city at or near the James J. Hogan Senior High School/Castlewood Park area. In the event that the project should fail to materialize for any reason, the purpose of the capital outlay fund shall be to provide for such other capital improvements deemed necessary or advisable as reflected in resolution or resolutions adopted by the city council.

(Ord. 352 N.C.(2d) § 1 (part), 1976.)

In addition to the moneys allocated for the project under Section 3.46.010, there shall be allocated to and placed in the capital outlay fund two hundred fifty thousand dollars by transfer from the cash basis fund to be expended for the project or other purposes specified in Section 3.46.020; provided, that the sum shall be reimbursed and paid back into the cash basis fund from the next revenues accruing to the city as a result of federal general revenue sharing moneys due and payable during the 1976-77 fiscal year, as and when received by the city. Further, the city council may appropriate to the vital outlay fund additional revenues from other sources found available by the council in order to assure completion of the project as contemplated.

(Ord. 352 N.C.(2d) § 1 (part), 1976.)